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around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a small
still hopes congress can reach agreement to avoid the so- called fiscal cliff. obama met congressional leaders at the white house on friday to discuss a deal. he said the talks were constructive, but did issue a warning on behalf of the american people, demanding congress take action. >> america wonders why it is that in this town, for some reason, you cannot get stuff done in an organized time table, where everything has to wait till the last minute. we are now of the last minute. in the american people are not going to have any patients for a politically self-inflicted wound to our economy. >> the president said he was modestly optimistic that the january 1 deadline for the fiscal cliff could be averted, but that is contingent on a vote in the senate on a compromise bill, and that will have to get an up or down vote. there is a majority for that, with some tax increases for upper-income people. the question is what level would be acceptable to republicans. more crucial to that is, whatever the senate proposes and passes on to the house, will it be acceptable to the majority of republ
: president obama is rounding up the top four leaders in congress to meet at the white house. senate leaders harry reid and mitch mcconnell will be at that meeting scheduled for about seven hours from now. this could be their last chance to find terms they can all agree to. the president and senate got back to work yesterday. the house of representatives just got the call to return sunday night. a vote has been taken by monday or else automatic income tax increase will kick in on tuesday. republican aid say their leaders might now get on board with that. even so there is economic proof that many americans still fear going over the fiscal cliff. i'll have more on that in my next update. live in washington kyla campbell ktvu channel 2 news. >>> analysts say if the country goes over the fiscal shift it could send the economy back if into a recession. >>> secretary of state hillary clinton is expected to return to work next week. a specksman for clinton says she continues to recooperate at home. doctors say clinton contracted a stomach virus earlier this month and became dehydrated and fainted.
. >> the agreement that the obama administration and congress made was to cut six percent of the defense budget. which even it was cut would be well above what was pre-9/11 numbers. >> so we'll be looking at more than a trillion dollars in cuts to our defense budget over the next ten years. where will those cuts be? the much shorter answer is, where won't those cuts be? >> we're talking about $650 billion. we can reduce that by well over $100 billion a year. i believe, frankly by, not in the first year but by a couple of years from now, by $150 billion a year and still be far safer than we've been and without any potential threat to our ability to exist. >> and in the next five years, the military will downsize its active duty personnel and move many of them from europe back to the u.s. in a pivot to asia. >> the key budget and strategic question, as i look out over next five years or so is, is how does the u.s. remain strong or even add to its strength in asia without simply reinforcing what i think of as the legacy systems that we've had for generations that were our means of projecting power
for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colonies. in europe the dax down about there a
obama and congress will reach a deal in time but that number has dropped in the past week. president obama plans to cut short his family vacation in hawaii leaving for washington late tonight. yesterday, he spoke to troops at a marine corps base in hawaii. >> on behalf of michelle and myself and our whole family we do this every year. this is where i was born so we come back for the holidays but one of our favorite things is always coming to the base on christmas day and having a chance just to meet you, those of you who have families here and to say thank you for the extraordinary work and service that you guys do each and every day. >> chip reid is in washington with more on the budget talks. chip, good morning. >> good morning, rebecca. as you mentioned, the president plans to cut short his vacation in hawaii and fly back to the white house later tonight, arriving about noon thursday. here in washington there has been no communication between republicans and democrats about how to avoid going over the cliff. before the christmas break speaker john boehner
accomplished. congress is the most unproductive session since the late 1940s. president obama has signed 290 bills passed by congress this year. this compares to 383 bills passed last year. his approval rating currently stands at a nice round that 18% according to politics average. from the youth list to the downright e'en, a survey from airfare revealed that flyers found -- nearly 25% of the vote. united airlines coming in second with 21% and followed by alta and u.s. airways. the social network suspending its new year's eve messaging tool. it allowed them to read the messages of private users. diane, a big raise. >> that is right. we are watching netflix shares very closely. this comes out after they cut his take last year. the stock is up almost 32% since the start of 2012. reed hastings is doubling his outlook. trading is light as expected. the dow is up 11. the nasdaq is up about 22. the s&p is up about five points. dagen: thousands of small businesses around the country are waiting for the outcome around washington. the results could have a serious impact when it comes to withholding t
. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increase is for everyone in the spending cuts will be triggered in the new year. >> the main dispute continues to be over taxes. >>, of the kron 4 morning news changes are coming to a netflix starting next year. how the company wants to get users more connected socially and next. >> the web more attractive weather and headlines when we come back >> wexcome backed. >> time is 4:10. >> net flicks is adding more social features to it streaming media service in the u.s.. >> the company confirms that the congress passed a bill that drops restrictions on sharing user's video rental history. these revisions now with president obama signature before becoming law. >> lifting the restrictions allowing net flicks his additional there was also to media outlets by facebook and twitter. >> t
, president obama today called for congress to at least extend middle class tax cuts and unemployment benefits if no fiscal deal is reached. tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight inches and the city's mayor has declared a snow emergency. neighboring rhode island is also getting pounded over a foot of snow has already fallen in some parts of that state. >>> some good news this morning about former president george h.w. bush. we're told he is improving and has been moved out of the intensive care unit of the houston hospital where he was being treated for an elevated fever. the 41st president has been in the hospital for more than a month now. >>> those are you
exchange." i'm kelly evans. >> and i'm louisa bojesen opinion. >>> president obama calls congress back to the capital. >>> investors are bracing for the final eurozone bond sale of the year. italy is expected to see solid demand when it sells up to 6 billion euros of longer dated paper today. >> and japan's finance ministers saying other countries have no right to lecture japan on its currency policy instead calling for the u.s. to seek a stronger dollar. >>> let's take a quick check of the u.s. markets. the dow, nasdaq and s&p 500 down four days in a row something on the average of 2% when it come to the nasdaq. we're seeing pointed arrows this morning, again. looking to shed three or four points at the open, similar small decline seen for the nasdaq and for the s&p. most are still well in the green for the year, although december will be a down month unless the nasdaq can turn it around quickly. european bourses, the ftse 100 just barely lower, though, not moving too much. the xetra dax is an underperformer, down about .3%. the cac 40 also a mirror image of what we saw yesterday. the
. >> if president obama and congress aren't able to avoid the fiscal cliff people here in california will be hit especially hard because of prop 30 which was voted into law back in november. it will soon mean higher sales tax and higher income tax on the state's top earners. the fiscal cliff would add to that hitting all americans with higher taxes. >> i don't know, there's a word to describe how upset the public is going to be. nobody's going to be happy to see that happen. >> if taxes go up on everybody it's not going to be a happy time. but i think that's inevitably what's going to happen. >> they say the lowest income folks will see their take home pay shrink just over three and a half%. average earners 4% and top earners 6%. >> another sign the housing market is improving, the national association of realtors says pending home sales rose last month to the highest level in 2 and a half years. pending sales rose nearly 2% in november and that's the third month in a row it's gone up. >> amazon had a green christmas season. they announced the 2012 holiday sales were the biggest ever. they had s
for the tax code in a continuing series on what president obama and congress should tackle in the next four years today. the "new york times" lead editorial is why the economy needs tax reform. that editorial today in the "new york times" if you want to check it out. we'll go now to linda from indiana this morning on the independent line. caller: good morning. afe couple points to make. i can't understand why a handful of bureaucrats are able to control all the american citizens. i think there ought to be term limits. and if they don't do their job, instead of electing people why don't we throw them all out and appoint somebody and when they don't do their job they're the ones who get the pink slip. i just don't understand the way this economy is going. the e.p.a. is regulating and pushing through cutting down on energy, the poor coal miners, because they want that clean energy. we've got a plant right here not just a few miles from me. they burn clean coal. if i was in there, they would probably have me assassinated in a week because i would have a line item veto every bit of pork barrel s
. i'm susie gharib. with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. the senate could vote in time, but it's possible the house will wait until tuesday. that means the u.s. could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books
. it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could really take months to work out. >> can it be resolved in the matter of few enough days that they meet tha
. will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually. ac tweets to accomplish m
. lawmakers say it'll be time to get back to work when they and president obama return to washington on thursday following the time is running out to avert increases and domestic some members of congress are growing more skeptical that a budget agreement can be reached. >> before we go over the fiscal cliff, negotiations. >> president obama is in hawaii for christmas. and says he'll cut his vacation short to try and hammer out a deal with congress. the deadline. now a week away. if congress fails to reach any agreement, income tax rates will go up on just about everyone on january 1st. unemployment benefits will expire for many as well. >> thousands of nurses will walk off the job today at nine bay area hospitals. nurses with sutter health's alta bates summit medical center are asking for negotiated labor contracts and improvements in patient care protections. such as staffing levels, health benefits, and sick days. strikers say hospital officials want to reduce the number of paid sick days for nurses and technicians, while eliminating health care coverage for those who work fewer th
. president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there yet. one t
essentially rewrite legislation. changing the tax congress passed to declare obama care constitutional which is a littleec scary that the highest justice is -- justices in the land would take the activist roll. that's what is scary. the backdrop of the presidential year was europe. we know where this path leads. all this turmoil, the huge welfare and the low productivity and high unemployment that comes along with them, that was the backdrop of the presidential campaign. voters voted, and they said, yes, we are going to keep moving in that direction, kim. where do you think the electorat is here? is it be ibd hue the choices that -- is it behind the choices that jason suggested they might be? >> barack obamaus won this election by very effectively making this a referendum about his opponent, mitt romney. if you went out and asked most americans, do you think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a pr
and hazmat crews are on the scene. gregg: president obama is apparently cutting his hawaiian vacation short heading back to washington tonight to restart the negotiations on the so-called fiscal cliff. if mr. obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not avoided. >> there is a mismatch right now between how everybody else is thinking about these problems. democrats and republicans, outside of this town and how folks are operating here and we've just got to get that aligned. >> reporter: the president's wife and daughters are going to stay in hawaii to continue vacationing. we're told the president may rejoin them or he may not. it all depends on how negot
of high spirited presidential campaign. congress chocked full of retirement and president obama healthcare law. 2012 is a bit of a nail biter. president obama ran uno'posed. but sluggish economy and high unemployment and no plan for recovery made him vulnerable. >> president's policies have not been success to feel reignite the economy, putting people back to work. >> earning his party's nomination was not as easy for the former massachusetts governor mitt romney. even though romney went on to win decisive victories and becoming the republican nominee he emerged from the primary battle bruised. >> he is the worst republican in the country to put up against barack obama. >> romney's campaign saw several ups and downs but appearing confident and in command in the first debate, romney threw president obama off the game with the president delivering a shaky performance. >> the first debate sets the tone and can have the most impact but yeah, look, this is a series. >> mr. obama regained the footing by the third and final debate and ultimately won re-election. >> the best is yet to come. >> lo
is already fan. >> reporter: press the barack obama needs is- president barack obama is saying that the congress need to take immediate action. the meeting today was good, and constructive but there's no agreement there should be a vote on his proposal to extend unemployment benefits and also help with tax cuts on the middle-class. justin waldman, kron 4. >> reporter: the city of richmond has been issuing a permit to pg&e. this san bruno explosion.. for chevron is hoping that this will be completely repaired by the end of next year. >> reporter: senator cherry hill well propose a bill to install an interlock device on their vehicles. >> for one year and comply with the calibration every other month. before fully getting their driving privileges back this will make it clear that repeat offenders to not complete the interlock program there will never get their license back. >> reporter: haazig madyun redwood city, kron 4 >> reporter: just a couple of days away from a to year's eve and if you might want to consider- public transportation. they have extended transportation or even
obama and congress, along with cappuccinos and lattes. wolf blitzer's off today. i'm joe johns. you're in "the situation room." >>> on this day after christmas, extreme weather is making travel slow, difficult, and dangerous for millions of americans. severe storms are moving toward the east coast right now, packing snow and threatening tornadoes. the kind of blizzard conditions that hit the midwest are moving into new england. the region could get more than a foot of snow tonight and tomorrow. in the south, a storm that unleashed tornadoes is heading into the carolinas and northern florida. at least three deaths are being blamed on the severe weather. cnn's holly firfer is at the busiest airport in atlanta. >> reporter: it's a tough day to travel. as that storm heads through the northeast, it's making it hard to travel by road and in the air. >> reporter: snow, ice, and high winds. >> we want to get out. >> it's always scary when you're flying, that you're going to be stuck in the airport. >> reporter: a massive storm that left many in the midwest and parts of the south with a whit
. i like the way he looked at obama care and handed it off to congress and the stimulus bill that he handed off to congress. this is the one person doesn't have to bowe to the god of reelection. everybody else is subject to the things you have already talked about, their home. what would lbj have done, blake? not this. >> i would just be frank with you. i think it's an odd gamut. because look, as i just said i'm skeptical about the ability of these two senate leaders to hammer out a deal that would satisfy both of their very competing, completely opposing imperatives and the next step the president said if you guys don't get a deal i'll ask harry reid to put a bill on the floor and we both know in order for that to happen mitch mcconnell will gra have to agree not to filibuster that and the president is daring mitch mcconnell not to engage in a filibuster and it would seem so embarrassing to the public that mcconnell was filibustering a deal for middle-class tax reform. i think that's a risky gamble. i guess the way he, the president, is thinking of it is either he gets that bill on
between the white house, the senate, the congress moves to pennsylvania avenue. president obama meeting behind closed doors with house speaker boehner, senate majority leader harry reid and senate minority leader mitch mcconnell talking about doing something to keep more than trillion dollars in tax increases and cuts from taking effect next week. also joining that party today, america's happy warrior. vice president joe biden will be there. while some appear ready to compromise others are still ducking, dodging, trying to dump the blame elsewhere. >> we all have our ideas and in the senate, you're right. we probably another 40, 50, 60 of saying that we're ready to both raise revenues and control entitlements. when's the missing ingredient? it is presidential leadership. >> i think in the end we'll get a deal. the question is the timing. >> am hopeful there will be a deal that avoids the worst parts of the fiscal cliff, namely taxes going up on middle class people. >> it's pretty apparent that we are not going to do what we've been called to do. this is 112th congress. we have had two y
working on a fall back plan that can pass both chambers of congress. >> some people will not like it, but that's where we are. >> reporter: president obama is pushing for a stop gap measure that would at least avoid tax increases on people earning less than $250,000. frustration is growing. a simple stop gap percent is not what men -- measure is not what many in washington hoped for. many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> president david wilson may be getting a remove of sorts after a lengthy public meeting months announced it is negotiating to keep him on until june 2014. his current contract expires in june of 2013. it was a rough year with two shootings on campus. >>> the russian president signed a law banning americans from adopting russian children. a law that people say is heartbreaking and punishes no one but the children. one family says he just signed
. 2:00 on the east coast. i'm lori rothman. we heard from president obama. did he mock congress? ashley: a little bit. this is busy day on new year's eve. not a done deal. we're making progress on an agreement. there is more work to do. the hour is. lori: fiscal cliff taking away from what has been a solid year for stocks. s&p 500 up 11 1/2%. nasdaq up 14%. accordingly we're looking for answers. ashley: apple shares clawing back from the three-month slide. baron's jack hough says the stock has more upside ahead and he will explain why. lori: as we do every 15 minutes, let's head down to the floor. diane macedo covering all the action. diane, stocks climbing ever so slightly higher. all eyes must be on washington. are investors more encouraged we will get some kind of a deal, however you want to characterize it by midnight tonight? >> hi, lori, hi, ashley. doesn't seem like it if you look at market numbers. they're hiring when we started this morning but they're actually lower before the president started speaking today. the dow is up 45 points. nasdaq is up about 32, and s&p is
, president obama will not send legislation to congress today that might avert the so-called fiscal cliff. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we a
there is still a lot of work going on on capitol hill. president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but
presidential campaign. congress chocked full of retirement and president obama healthcare law. 2012 is a bit of a nail biter. president obama ran uno'posed. but sluggish economy and high unemployment and no plan for recovery made him vulnerable. >> president's policies have not been success to feel reignite the economy, putting people back to work. >> earning his party's nomination was not as easy for the former massachusetts governor mitt romney. even though romney went on to win decisive victories and becoming the republican nominee he emerged from the primary battle bruised. >> he is the worst republican in the country to put up against barack obama. >> romney's campaign saw several ups and downs but appearing confident and in command in the first debate, romney threw president obama off the game with the president delivering a shaky performance. >> the first debate sets the tone and can have the most impact but yeah, look, this is a series. >> mr. obama regained the footing by the third and final debate and ultimately won re-election. >> the best is yet to come. >> long serving texas co
. >> reporter: the white house said after the newtown shooting that president obama supports a ban on assault weapons proposed by california democratic senator dianne feinstein. getting it through congress quickly is highly unlikely, but the mere mention of a ban is enough to send sales soaring and, it's not just guns. brownells said it recently sold more than three and a half years worth of ar-15 magazines in three days. even before newtown, sales of guns and ammunition this year were surging. fbi background checks of potential gun buyers were up 31% in november 2012 over 2011. in a report issued prior to newtown, the market research firm ida's world that tracks the gun industry, found gun enthesists are working themselves into a frenzy over what another four years under the obama administration may hold for gun laws. chuck is an instructor at nova firearms in falls church, virginia, where they nearly sold out of ar-15's and high capacity magazines after newtown. >> so ironically this shooting is inspiring more people to buy this gun, the ar-15 and the high round magazines? >> if i could, i
obama say he's modestly optimistic that a last-minute deal can be reached with members of congress before america goes over the fiscal cliff four days from now. he's warning that no one will get everything they want, but he says that shouldn't stand in the way of reaching an agreement. >> we're now at the last minute. the american people are not going to have any patience for a politically self-inflicted wound to our economy, not right now. >> we are joined by former labor secretary robert reich, the author of "beyond outrage." i wish we had more time. i'd ask you all about how to fix it. but let's focus on this one part, secretary reich. you listened to the president. what did you hear? >> candy, i heard basically washington boilerplate, keep our fingers crossed, this is going to be a hail mary, but i have no idea how this is going to come out. >> when you hear him say, i've asked for an up-or-down vote, do you hear, there's a possibility or do you hear, uh-oh, this is a guy looking to position himself for after we go over the fiscal cliff? >> well, undoubtedly the president wants
nature of the problem. host: mavericks'writes -- guest: actually not. mr. obama had a democratic congress when he came in, 60 votes in the senate, which , amount-- senator brown had won in massachusetts. but he started out with 60 and then it went down to 59 when senator kennedy and sadly died. i really admired senator kennedy as much as any man who ever served in the senate, even though we did not agree. mr. reagan had to deal with tip o'neill. that was one of the great events in washington politics because you had two extraordinarily capable politician opposing points of view. mr. reagan was poorly matched. mr. obama had nancy pelosi as speaker of the house. but hardly the same thing. host: from massachusetts on the line, democrat. caller: good morning. i have a comment and question. i am trying to find out, the situation you're in right now, why is everybody fighting about what we should do? i am gmt and i am broke every day. i'm down here with people that paid taxes and work hard every day. -- i am an emt. people don't understand that would ever happens with the fiscal cliff, people d
policy sales because of uncertainty over the fiscal cliff. president obama has cut short his vacation to help reduce the national debt. budget cuts and tax rises will start on january 1. the white house has called on republicans not to block a resolution in congress. severe weather has caused hundreds of holiday flight delays with its sweeping storm system moving east after tornadoes struck for states on christmas day. at least six people have died. >> dallas, texas, where snow is a rarity came as a christmas surprise. it turned white and the motorists struggled with slippery roads. 21 cars and fractured trailers, and eastern ohio, kentucky, and indiana. along with wind gusts of 50 kilometers an hour. the unusual winter phenomenon hit for seven states, 34 tornadoes. this one touchdown in mobile, alabama. it overturned cars and blew out windows. >> it is like this crazy wind, just the whole building is shaking. >> a caused no fatalities, but a thunderstorm fell this tree, killing a driver of this truck. and if no border was buried by an avalanche. the storm system shifts to the eastern
level since thanksgiving. the news that president obama did not come up with a new plan when meeting with congress just now, not good news for the markets, and we closed at session lows for the s&p 500 futures, probably indicating there's selling when trading reopens tonight and tomorrow morning as well. david: fasten the seat belts, a bumpy weekend and monday morning of trading, well below the 1400. shibani: dropping a percent. watching shares of rukus wireless with new highs, possivities with one stock. >> focus on that. it's been a rough week, month, and certainly day. here's the shares now, and there's the cymbal. they closed up 2.5%, but they hit an all-time high, only ipo last month, but they were down a lot since the ipo. the all-time high was 23.28, a rise of 5% basis. interesting to talk about a stock doing well oo a day when most everything is down. hard pressed to find an up arrow, but this is the fox business booth. welcome. we have our guard dog which is the rukus dog, gaae that out to the ipo down here. if you want to see, here's the hair spray and my pick, our booth fo
president obama supports a ban on assault weapons proposed by california democratic senator dianne feinstein. getting it through congress quickly is highly unlikely, but the mere mention of a ban is enough to send sales soaring. and it's not just guns. brownell's, the world's largest firearm supplier, said it morently sold more than three- and-a-half years worth of a.r.- ag magazines in three days. even before newtown, sales of guns and ammunition this year were surging. chb.i. background checks of intential gun buyers were up 31% 20 november 2012 over 2011. in a report issued prior to newtown, the market research rack ibis world, which tracks the gun industry, found gun venthusiasts are working dermselves into a frenzy over what another four years under the obama administration may hold for gun laws." an instructor at nova firearms re falls church, virginia, where hey nearly sold out of a.r.-15s and high-capacity magazines after newtown. so, ironically, this shooting is a.spiring more people to buy this gun, the a.r.-15, and these mgh-round magazines. >> if i could, i would give ynator fein
about congressional departures and do you will miss the most in congress. >> as president obama begins his second term of office, what is the most important issue he should consider for 2013? >> if you are in grade 6 test well, make a video message. >> it is the student can video congress -- contest. there is a grand prize of $5,000. deadline is january 8. for more information go to student can.org. >> the time i was 9-year-old, was handing out leaflets for robert kennedy and when i was 10, i made a decision and broke with the democratic party and went to work for john lindsay for mayor of new york but i would not work for him as a republican. i work -- i went down to the liberal party headquarters and i was handing out leaflets on a street corner in new york and some woman thought this was cute that this little boy was handing out leaflets and chest me why i made the case for john lindsay and got an early start on my political consulting career and made the case against his opponent as well. she said that is cute as she handed me a box of what looked to be pastry, a white box with str
. the obama administration has been keen to reform the nation's export control structure to boost exports as it curbs domestic military spending but getting that through a recalcitrant congress has been challenging. critics fear american technology into the wrong hands. that's a valid concern but blocking sales and strangling america's space industry is an even bigger threat. if you are not selling anything you are not controlling anything, either. working together republicans and democrats solved this problem. they should continue the system and tackle the nation's other problems. thanks for joining us for "this week in defense news." i'm vago muradian. you can watch on-line it at defensenewstv.com. before we go i would like to wish everybody a very happy new year. i'll be back next year at the same time. until then, have a great week. >>> patient centered research, is it more than a slogan. patient leaders rate their progress. i'm steve usdin. welcome to "biocentury this week." >>> your trusted source for biotechnology information and analysis, "biocentury this week." >>> it has blazed
that to happen, it will be the most colossal consequential act of irresponsibility. >> reporter: president obama says he'll cut his vacation short to hammer out a deal with congress. the deadline now a week away. i'm andrew spencer reporting. >>> if congress face to reach the agreement income tax rates will go up on just about everyone on new year's day. unemployment benefits will expire for many as well. you may not feel the pinch right away. already too late for employers to accurately who would income taxes from those january paychecks. the social security payroll taxes are set to increase on january the 1st. you will see an immediate cut in your take-home pay. >>> the senator from idaho is apologizing for being arrested over the weekend. senator michael crepo was charged with driving under the influence. he was pulled over early yesterday froms agoryia, virginia outside of washington. the senator says he is he is deeply sorry and will deal with the consequences. >>> charges could be filed as soon as today against a driver accused of striking several pedestrians in san francisco. one of the v
the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock on effects for the global economy. the pressure is on in washington to agree on a plan. only then might the applause on wall street be a little more genuine. >> with the clock ticking ever more loudly in washington, let's bring in our correspondent. first off, are the prospects of an agreement as dim as we are hearing, or could there be a last-minute deal? then of course this could happen, but i think it is quite
rubeio. 51% for former florida governor jeb bush. president obama plans to submit gun control legislation to congress in 2013. that will deal with assault weapons specifically, as well as background checks on gun sales. as you might realize, it's spurred on by the school massacre in newtown, connecticut, killed 20 children and 6 adults. murdered his mother and killed himself. speaking yesterday on "meet the press," the president says something has to fundamentally change in this country. that newtown shootings cannot feel like what he called a routine episode. >> that was the worst day of my presidency, and it's not something that i want to see repeated. >> vice president joe biden is leading a task force that will submit legislative proposals to the president in january. >>> also, happy new year, new zealand. auckland. and the start of 2013 with the fireworks display from sky tower, tallest free standing structure in the southern hemisphere. >> and as auckland rings in the new year, preparation under way in times square. heart of new york city, coming up next. >> and more from washington
of it, having president obama back in washington today, and having congress still out, is not the right message to end. people right now feel that the republicans are the party of no, that they are the ones causing this, they are going to get blamed. the fact of the matter is, is that they are doing the fiscal responsible thing here and that's where they can hang their hat. is that they have to hold on for deficit spending, and they still have the debt ceiling to hold in their back pocket if they need to. >> so what would, if you had been advising boehner, what would you advise him to say yes to? >> well, you know, he has to push the president to get more spending cuts. >> well, he tried that. he tried that. the president's in the cat bird seat, though. the president can say no and the republicans still get blamed. >> and then he came up with this plan "b" is really where things went off the rail. because it just looked like a mess publicly. >> all right. keith, what -- i mean, i know that it's not your party, but what would you advise the republicans to do, if anything in the next two
for a possible plan on taxes and spending. president obama was on "meet the press of" today saying the pressure is on congress to make a deal. he was optimistic, but he said that they cannot come to an agreement, he wants the senate majority leader to introduce legislation to make sure middle class taxes stay where they are. live coverage of the senate on c-span2 when the gavel in. the house out to woodcock with the boats as early as 6:00 looking at a number of legislation from veterans to foreign aid. you can watch the house live here on c-span. >> republican olympia snowe from maine is also retiring at the end of the 112th congress after three terms. next, her farewell address. it is about 35 minutes. >> i rise today with an infinite appreciation for the institution of the united states senate as well as a profound sense of gratitude. as i prepared to conclude my 18 years in the senate and my nearly 40 years in elected office on behalf of the people of maine. madam president, it has been difficult to envision the day when i would be saying farewell to the senate. just as it was impossible to
and the next congress will have to started on it all over again. >> gregg: molly henneberg, molly thanks. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground. he is going to get tax rate increases but upper income americans and sad news for the country we have accomplished very little of not becoming greece. this won't affect the debt situation. it will be a political victory for the president and i hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe in. but hats off to the president. >> we have been talking to the republicans since the election has been over. they have had trouble to say yes to a number of repeated offers. >> so what kind of deal if any can we e
to leave for obama to have a hastily called friday evening press conference saying, you know what, congress, you have ten days, you go work it out. it's doable. >> it's been an interesting year. of course, we started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still a lack of confidence, i would argue on the part of many of them, that you would like to see more of. perhaps a reflection of their concerns about the fiscal crisis that may weigh on our tax spending policies. >> we'll start over the next week or so talking about performers for the year. top s&p performer is pulty, which says how people are viewing how people will view what's driving the economy in the coming year. bank
or grow the economy. there has been very little discussion about growth. congress did something great and president obama signed it. it was called the jobs act. it was about growth and a lot of growth through innovation. what it did is made easier forebitt entwhistles to raise money. they could crowd funds, go out to more people before having these commission regulations, they could do many other things they couldn't do under the present law. but it did require the security and exchange commission to issue some rules. it turns out those rules have still not been issued. it's been about a year now and they've been held up because the chairman of the sec, chairwoman, shapiro, no relation to me, decided to sit on them because she was concerned about her legacy, according to some e-mails. >> dave: here is what patrick mchenry, congressman said about all of this. quote, a direct result of pressure from one special interest group and the personal agenda of the chairman. where does this go from here? has it just been permanently shelfed? >> no. it can't be permanently shelfed because there i
of the people in congress and how to play on those weaknesses and strengths. obama doesn't seem to have that skill set to have human nature as a way of getting done and i think this is my 11th book. >> when you say to some of the critics? >> well, some of the criticisms about the accuracy of the stories they tell an executive. >> the fact of the matter is that as far as i know, there hasn't been a single fact that has been challenged in any kind of credible way. kids in school are, you know, they call each other names. when it comes to the credibility of my reporting, i don't think anyone has laid a glove on the yet enact how many years? >> 12 years of editor-in-chief in "the new york times" magazine. >> many of my books have been in vanity fair. it has one of the most rigorous fact checking departments in the magazine business. all of these books, not a single discrepancy has been found. >> you are interviewing jeremiah wright. what was that like? >> it was on the record and tape recorder. we sat down for three hours. we were sitting the way you and i were sitting. you know, it was an
awning on cnbc and cnbc.com. simon? >> hundred efs thousands of jobs are waiting for congress to act over the next few hours. who is in trouble? more "power lunch" in two minutes plus of course president obama speaking in about 12. this is cnbc. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. sfls welcome back to "power lunch." one of the big barometers today on how the market feels about the ofds going over the fiscal cliff is the defense sector. the defense sector index today in fact back up near the highs after that report from john harwood that they may be close to a deal when it comes to at least the tax portion of the fiscal cliff. but simon, we still have to deal with th
>> what do we expect in terms of movement in this area for the second term of president obama? >> i think we still have split control of congress said there is a limit to what he can do on his own. he will try to use the regulatory process and executive authority like he did to do what he can, but he can't appropriate money. i think there are some things that members of congress will agree with. disclosure does not cost money, were very little money, it is likely to be favored by both sides. the reauthorization of the higher education act. it might not happen on time, if we look at the last authorization that was supposed to happen in 2003, they had 13 extension bills. i hope it doesn't take that long this time around. there will be a lot of proposals for major changes. then by redesign the student loan programs. they might redesign the grant programs. it is worth commenting on. >> i know that there is certainly aware of it. they have been hearing about this problem, that is one thing that does not require congressional action. the consumer financial protection bureau is the new game in t
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